Imports Growth $32.3b, Exports $7.7b – Apri-July2017 Period

TOI reporting Cumulative Imports of 28.3% – I was stunned. Further study revealed even more disappointing story. ‘Cumulative export during April-July of 2017-18 rose by 8.9% to $94.8 billion while import increased by 28.3% to $146.3 billion, leaving a trade deficit of $51.5 billion.’

Oil imports during April-July, 2017-18 were valued at US$ 31022.43 million which was 20.87 per cent higher than the oil imports of US$ 25666.96 million in the corresponding period last year. Non-oil imports during April-July 2017-18 were valued at US$ 115234.28 million which was 30.46 per cent higher than the level of such imports valued at US$ 88329.79 million in April-July, 2016-17.